Tech Mogul Mike Lynch Missing After Yacht Disaster

British tech entrepreneur Mike Lynch is missing following the sinking of a yacht off Palermo. Acquitted in June of fraud related to his $11 billion sale of Autonomy to HP, Lynch had recently defended his actions. The failure of the deal resulted in a substantial write-down for HP.

British tech entrepreneur Mike Lynch has gone missing after a luxury yacht was struck by a violent storm and sank off the coast of Palermo, Sicily, on Monday, according to a source close to the rescue operation.

Lynch, 59, was acquitted in June by a San Francisco jury of fraud charges tied to the $11 billion sale of his software company, Autonomy, to Hewlett-Packard in 2011. This transaction had initially solidified Lynch's reputation as a leading figure in the tech industry.

However, the deal quickly soured when Hewlett-Packard wrote down Autonomy's value by $8.8 billion. Lynch expressed relief at being cleared, asserting during the trial that HP mishandled the integration process.